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Adobe Systems (ADBE) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $560.48, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.13%.
Shares of the software maker witnessed a loss of 9.85% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.93% and the S&P 500's gain of 4.74%.
The investment community will be closely monitoring the performance of Adobe Systems in its forthcoming earnings report. The company is scheduled to release its earnings on March 14, 2024. The company's upcoming EPS is projected at $4.38, signifying a 15.26% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.13 billion, indicating a 10.19% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $17.89 per share and a revenue of $21.41 billion, indicating changes of +11.33% and +10.33%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Adobe Systems. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Adobe Systems is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Adobe Systems's current valuation metrics, including its Forward P/E ratio of 30.94. For comparison, its industry has an average Forward P/E of 31.54, which means Adobe Systems is trading at a discount to the group.
It's also important to note that ADBE currently trades at a PEG ratio of 2.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ADBE's industry had an average PEG ratio of 2.38 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Adobe Systems (ADBE) Advances While Market Declines: Some Information for Investors
In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $560.48, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.13%.
Shares of the software maker witnessed a loss of 9.85% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.93% and the S&P 500's gain of 4.74%.
The investment community will be closely monitoring the performance of Adobe Systems in its forthcoming earnings report. The company is scheduled to release its earnings on March 14, 2024. The company's upcoming EPS is projected at $4.38, signifying a 15.26% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.13 billion, indicating a 10.19% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $17.89 per share and a revenue of $21.41 billion, indicating changes of +11.33% and +10.33%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Adobe Systems. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Adobe Systems is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Adobe Systems's current valuation metrics, including its Forward P/E ratio of 30.94. For comparison, its industry has an average Forward P/E of 31.54, which means Adobe Systems is trading at a discount to the group.
It's also important to note that ADBE currently trades at a PEG ratio of 2.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ADBE's industry had an average PEG ratio of 2.38 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.